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Asymmetric Impact of Financial Integration to International Nonsynchronous Trading Effects in Developed and Emerging Equity Markets

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Table 2. Descriptive statistics of historical correlations. The table below presents the mean, standard deviation, skewness and kurtosis of the historical quarterly non-overlapping correlations between 10 international indices and S&P 500
Table 3. Regression result of Equation (10). The table below presents the regression result of Equation (10) for the 10 sam-ple international equity indices
Table 4. Monotonically decreasing sample relationships. The table below presents the number of monotonically decreasing sample betas for all 5 lagging periods and its percentage with respect to the total sample period of 61 quarters

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